The tax-saving Equity Linked Savings Schemes (ELSS) have registered a net outflow over the past three months despite overall investments in other equity schemes reaching new highs.
Once popular with the middle and lower income tax payers, ELSS has been losing its appeal to the larger section of investors after the launch of the new tax regime.
The outflow from tax saving schemes have doubled to ₹445 crore last month against an outflow of ₹144 crore in April. And the Inflowsplunged 87 per cent to ₹1,041 crore last fiscal, against ₹7,744 crore logged in FY’23.
